in february, rent inreased from $875 to $915 per month. what was the percent of increase to the nearest percent?
a 4%
b 5%
c 40%
d 50%
i'd say d
but i might be wrong.
increase = 40
so rate of increase = 40/875 = ??
To find the percent increase, we need to calculate the difference between the new and old values and then express it as a percentage of the old value.
In this case, the old rent was $875, and the new rent is $915. The difference between the two is $915 - $875 = $40.
To calculate the percent increase, divide the difference by the old value and multiply by 100:
Percent increase = (Difference / Old value) * 100
Percent increase = ($40 / $875) * 100
Calculating this, we get:
Percent increase ≈ 0.0457 * 100 ≈ 4.57
Rounding to the nearest percent, the percent increase is approximately 5%.
Therefore, the correct answer is b) 5%.